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Tumenjargal
Tumenjargal, 53 years old, is a widow who lives with her parents, daughters and niece in her old brick house on a plot of land in Ulaanbaatar, the capital city of Mongolia.

She made one part of her house into a grocery store where one of her daughters sells various kinds of food. Her elder daughter works at a private business entity.

The house they live in has deteriorated over the years and needs some serious repair. So she is requesting a loan of 6,000,000 MNT to purchase building and insulation materials such as planks, bricks, fiberglass and foam. Using those materials, she can repair and insulate her house because, during winter time, the family chills down to its core and she doesn't want her parents to get flu or any sickness.

The renovated house will enable the family to burn less coal, emit fewer pollutants and thereby contribute to efforts against air pollution. The borrower is a very hardworking individual who strives for a better future.

Additional Information

More information about this loan

This loan is part of Credit Mongol's green loan program,  which helps clients to gain access to electricity through solar panel kits, as well as other products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

About Credit Mongol

Credit Mongol is the largest non-banking financial institution (NBFI) in Mongolia. Its mission is to contribute to the prosperity of Mongolians by providing high-quality, affordable and varied financial services to micro-entrepreneurs and small-to-medium-sized businesses. It prioritizes serving remote, rural populations that have typically lacked access to credit and other financial services. Uniquely, it offers solar panel loans to nomadic herders, most of whom live without electricity.

About Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,427.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,225 helped Tumenjargal to purchase building and insulation materials.
72% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 7, 2013
Listed
Jul 2, 2013
Currency Exchange Loss:
Possible